Setting your house in order involves realizing that death is inevitable and taking steps to ensure your loved ones can easily access your assets. Beneficiary designations on IRAs, life insurance policies, and bank accounts can bypass probate court, while transfer on death and pay on death designations can also avoid probate. It's essential to review and update these designations regularly, especially after significant life events like marriage, divorce, or the birth of a child.

Lifetime income annuities can provide a predictable income stream for life, with the option to double the amount if long-term care is needed. This type of annuity can be used as a social security bridge, providing additional income to supplement retirement benefits. It can also be used to cover long-term care expenses, with the ability to double the income if one spouse requires care. The annuity can be customized to meet individual needs, with options to add a Roth conversion and invest in a variety of assets.

King David's long-term planning for his son Solomon's temple has inspired a new generation of parents to think about their own children's future. A recent law has introduced tax-advantaged accounts for children, offering a unique opportunity for families to save for education, first homes, and more. But what are the benefits and drawbacks of these new accounts, and how do they compare to existing options like 529 college savings plans and life insurance policies?

A financial planner uses a biblical story to illustrate the importance of long-term care planning, discussing the benefits of a hybrid life-long-term care policy with unlimited benefits and the process of qualifying for a claim. The policy covers informal care, home health care, assisted living, and nursing home costs, and the planner explains the indemnity benefit and the process of applying for a claim.

Creating a comprehensive financial plan for retirement involves considering multiple factors, including Social Security, Medicare, IRA, long-term care, and income tax. A financial planner can help individuals make informed decisions about their retirement savings and income, ensuring they have enough to live comfortably throughout their golden years.

Medicare insurance market disruption is causing changes in coverage and premiums for Medicare Part D and Advantage plans. The Inflation Reduction Act introduced a $2,000 out-of-pocket maximum for Medicare Part D, but the government did not provide funding to support this change. As a result, insurance companies are increasing premiums and changing formularies, affecting drug coverage and costs for beneficiaries. To navigate these changes, Medicare beneficiaries should create a Medicare.gov account to access their claims history, shop for plans, and compare coverage and costs. Insurance agents and advisors can help beneficiaries understand these changes and make informed decisions about their Medicare coverage.

The passage of the one big beautiful bill act of 2025 brings significant changes to tax reform, including the extension of tax cuts, increased standard deductions, and new charitable deductions. The bill also introduces tax credits for working families, including the child tax credit and the tax deduction for tips and overtime. Additionally, the bill creates the Trump accounts, which provide a thousand dollars from the government for babies born between 2025 and 2028. These changes aim to simplify tax planning, reduce taxes for seniors, and promote financial literacy.

Financial planners discuss alternative investment strategies for retirement, including fixed income annuities, to mitigate market risk and provide guaranteed income. They explore the benefits and drawbacks of these products, including surrender charges and liquidity constraints, and emphasize the importance of diversification and comprehensive financial planning.

Certified Financial Planner Hans Scheil helps a 401k millionaire navigate tax strategies and financial planning to ensure a comfortable retirement, including Roth IRA conversions, long-term care insurance, and minimizing Medicare tax.

Retirement income planning involves managing risks such as sequence of returns, market risk, and longevity risk. Annuities can provide a guaranteed income stream, mitigating these risks and allowing individuals to safely spend their money in retirement. By understanding these risks and utilizing annuities as part of a comprehensive retirement strategy, individuals can enjoy a more secure and fulfilling retirement.

God's provision for long-term care is highlighted in the story of Ruth, where Naomi's family stepped in to provide for her needs. Certified Financial Planner Hans Scheil discusses the importance of planning for long-term care, comparing traditional and hybrid policies, and how they can provide financial security for individuals and their families.

Managing the income-related monthly adjustment amount, or IRMAA, for Medicare can be a complex process, especially for high-income individuals. Certified financial planner Hans Scheil explains how IRMAA works and how it can impact retirement planning, including the importance of understanding life-changing events and how to appeal IRMAA charges. He also discusses the benefits of Roth conversions and how they can help reduce taxes in the long term.

The Social Security Trust Fund has a giant savings account with over $2.7 trillion, and while there are problems with the system, it's not as fatalistic as reported in the news. Understanding the accounting and financial planning behind Social Security can help alleviate fears and provide solutions to ensure its stability for the future.

Estate planning documents, such as wills and beneficiary designations, are crucial for ensuring that one's wishes are carried out after death. A revocable living trust can also help avoid probate and provide a smoother transition for loved ones. Additionally, powers of attorney can grant authority to make financial and medical decisions on behalf of the individual, providing peace of mind and protecting against potential conflicts.

Understanding the benefits and trade-offs of Multi-Year Guaranteed Annuities in retirement planning, including fixed interest rates, liquidity, and annuity options.

The new tax law provides benefits to retirees and seniors, including a higher standard deduction, an additional senior deduction, and changes to charitable deductions. The law also extends the estate tax exemption and increases the SALT deduction cap. Understanding these provisions can help individuals make informed decisions about their retirement planning and charitable giving.

Using IRA money to purchase long-term care insurance can provide a comprehensive solution for covering healthcare costs in retirement, including home health care, adult daycare, and nursing home care, with benefits that can last a lifetime and inflation protection.

Understanding Medicare and its various parts, including original Medicare, Medicare Advantage, and Medicare supplements, is crucial for a smooth transition into retirement. Certified financial planner Hans Scheil explains the complexities of Medicare and its impact on healthcare costs, emphasizing the importance of seeking professional advice to navigate the system effectively.

God's original Social Security system, the kinsman redeemer, is a biblical concept that has been implemented in modern times through the Social Security system. Understanding how to maximize Social Security benefits, including spouse and widow benefits, is crucial for a secure retirement. Certified Financial Planner Hans Scheil and his team at CardinalGuide.com provide expert advice on navigating the complexities of Social Security and creating a personalized retirement plan.

Certified Financial Planner Hans Scheil discusses the importance of planning for taxes in retirement, including Roth conversions and Medicare tax implications, to minimize tax liabilities and maximize wealth transfer to heirs.

A certified financial planner explains how inheriting property can result in a 'step up in basis,' reducing capital gains tax, and how this can be strategically used in estate planning to save taxes and benefit heirs.

A couple in their 60s can purchase a monthly income guaranteed for life, starting at $2,000 a month, for a total of $331,000. This is achieved by combining two annuities, one paying $2,000 a month for five years, and the other paying $2,000 a month for life. The couple can also collect a cash flow of 7.2% of the total investment, making it a great opportunity to provide a guaranteed income for life.

When nearing retirement, individuals often face challenges in managing their IRA or 401k funds. Certified financial planner Hans Scheil discusses the advantages of using a Roth IRA versus cash value life insurance to freeze taxes on retirement funds and provide tax-free inheritance for beneficiaries. He explains how these financial tools can be used to diversify investments, provide long-term care benefits, and offer flexibility in accessing funds during retirement.

Comprehensive financial planning includes long-term care insurance, which is a crucial aspect of retirement planning. Without proper planning, families can face serious consequences, including financial strain, caregiver burnout, and irreversible damage to relationships. Long-term care insurance can provide peace of mind and support for individuals and their loved ones, ensuring that they receive the care they need without compromising their financial security.

Managing Medicare Supplement plans can save you money, especially if you've had the same plan for three or four years. Certified financial planner Hans Scheil explains how to shop for the best rates and coverage, including the differences between Plan G, Plan N, and the high deductible Plan G. He also discusses the importance of reviewing your plan every three to four years to ensure you're not overpaying for your coverage.

A certified financial planner discusses the fiduciary duty of a CFP professional, exploring the concept of putting clients' interests ahead of their own, avoiding conflicts of interest, and disclosing potential conflicts. The discussion also touches on the importance of being a fiduciary in a Christian perspective, using biblical knowledge and practical knowledge to assist families in financial planning.

Understanding the different types of retirement savings accounts, including taxable, tax-deferred, and tax-free options, can help individuals optimize their financial planning and minimize taxes in retirement. Certified financial planner Hans Scheil explains how to use a combination of these accounts to create a tax-free retirement income stream.

Estate planning involves defining what you have, who you want it to go to, and under what terms and conditions. It's a process of creating a plan to manage your assets, minimize taxes, and ensure that your wishes are carried out after you pass away. Certified financial planners like Hans Scheil help families navigate this process, using tools such as annuities, life insurance, and trusts to achieve their goals.

Creating a tax-free income for retirement involves understanding various financial asset classes, including cash, IRAs, 401Ks, Roth IRAs, life insurance, real estate, and annuities. A financial planner's goal is to create a sustainable income stream that lasts a lifetime, while minimizing taxes and ensuring that assets are not depleted prematurely.

Your IRA can be considered an IOU to the IRS, and understanding the top IRA rulings of 2024 is crucial for beneficiaries. The SECURE Act and RMD rules can impact tax obligations, and an annuity can provide a solution to spread out distributions over 10 years. Eligible designated beneficiaries, including minors, disabled individuals, and chronically ill individuals, may be able to stretch out distributions over their lifetime.

Long-term care insurance with inflation-cost is a critical part of your financial plan, especially when it comes to protecting your family. Without a plan, you may end up with a bag of holes, leaving your family to figure out how to handle the consequences of a long-term care event.

Understanding Medicare and making informed decisions about insurance and financial planning is crucial for a successful retirement. Hans Scheil, a certified financial planner, explains the four steps to Medicare and insurance at 65, including becoming educated on Medicare, understanding the pluses and minuses of original Medicare and Medicare Advantage, and comparing costs and benefits.

Understanding your Social Security statement is crucial for retirement planning. Certified financial planner Hans Scheil explains the importance of considering your full retirement age, spousal benefits, and tax implications when deciding when to start receiving Social Security checks.

Managing Social Security, Medicare, long-term care, and estate planning can be overwhelming, but understanding the tax implications of each can help individuals plan effectively for their retirement. By leveraging tax-free income sources, such as Roth IRAs, and making informed decisions about income and investments, individuals can minimize their tax burden and ensure a smooth transition into retirement.

Having the right documents in place can make a significant difference in the lives of loved ones when unexpected situations arise. Certified financial planner Hans Scheil discusses the importance of estate planning documents, including the last will and testament, financial power of attorney, healthcare power of attorney, and HIPAA release form. He shares real-life case studies and emphasizes the need for these documents to ensure a smoother transition and avoid potential complications.

When it comes to retirement satisfaction, having a guaranteed income stream can make all the difference. Studies show that people with protected lifetime income tend to spend more and be happier in retirement. This is because they have a predictable check coming in every month, giving them the freedom to enjoy their golden years without worrying about running out of money.

IRAs and 401ks have numerous rules and restrictions, limiting their freedom and flexibility. Unlike regular money, IRAs and 401ks are subject to required minimum distributions, tax penalties, and double taxation at death. Understanding these differences is crucial for effective financial planning and estate management.

Managing long-term care costs is a crucial aspect of retirement planning, and financial advisors like Hans Scheil emphasize the importance of having a plan in place. He shares stories of individuals who have faced the challenges of long-term care, including a client who bought long-term care insurance and was able to access it when needed. Hans also discusses common excuses people give for not planning for long-term care, such as thinking they can self-insure or that their children will take care of them. He stresses the need to have a plan in place to protect one's family and finances from the burden of long-term care.

Paying extra for Medicare can be a surprise for high-income retirees, but understanding the IRMA tax and its brackets can help with financial planning and making informed decisions about healthcare costs.

Certified financial planner Hans Scheil discusses the Social Security Fairness Act, its implications, and how it affects retirees. He explains how the act was passed to make things right for certain groups of people who were previously denied Social Security benefits due to ancient laws. Hans also shares examples of how the act will impact individuals and couples, and how it may lead to a further depletion of the Social Security trust fund.

Managing investment income and avoiding the 3.8% surtax requires careful tax planning, especially in retirement. Understanding tax rates and the sunset provision can help individuals make informed decisions about their financial future.

Estate planning at 65 using life insurance can provide tax-free death benefits, long-term care insurance, and a bank of money with liquidity that can be borrowed at 0% interest. This strategy can also provide a tax-free income through loans and serve as a secret way to leave money to beneficiaries without involving other estates.

Creating a sustainable retirement income stream through annuities and financial planning, while also addressing long-term care and tax implications, can provide peace of mind and ensure a comfortable lifestyle in old age.

When a spouse dies, the surviving spouse inherits their IRA, but making the right decisions about tax implications and retirement income can be complex. Understanding the rules and options for inherited IRAs, such as delaying minimum distributions and treating the IRA as one's own, can help ensure a secure financial future. Financial planners like Hans Scheil can help navigate these decisions and create a plan tailored to individual circumstances.

Managing long-term care insurance with IRA money is a crucial aspect of retirement planning. A hybrid life-long-term care policy can provide a substantial benefit for home health care or nursing home care, covering a lifetime of long-term care needs. This policy can be purchased with IRA money, spreading out the taxation over 10 years and providing a death benefit of $176,000, paid tax-free to beneficiaries.

When signing up for Medicare, it's essential to make informed decisions about when to enroll, how to enroll, and what type of coverage to choose. Understanding the different parts of Medicare, such as Parts A and B, and the various types of supplemental insurance available can help individuals make the right choices for their needs and avoid lifetime penalties. A certified financial planner can provide guidance on navigating the complexities of Medicare and help individuals create a plan that will serve them well throughout their retirement.

Social Security income tax can be complex, but it's often misunderstood. Certified financial planner Hans Scheil explains how it works, including the standard deduction and provisional income, and how it affects taxes on Social Security. He also discusses the potential impact of eliminating taxes on Social Security and the importance of understanding how it affects one's overall retirement finances.

A certified financial planner explains how the 2025 tax brackets and rates work, and how they can affect retirement planning and tax planning. He discusses how to calculate effective tax rates and how to use Roth conversions to turn taxable money into tax-free money. He also touches on capital gains taxes and how they can be affected by tax rate changes.

Federal estate tax and its impact on wealth management are discussed, with a focus on the 2026 tax increase and sunset. Certified financial planner Hans Scheil explains how life insurance can be used to minimize estate taxes and provide liquidity for heirs. The importance of estate planning and the use of irrevocable life insurance trusts are also highlighted.

Hans and Robby are back again this week with a brand new episode! This week they discuss hybrid life/long term care insurance From IRA money.  Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. Find us on YouTube: Cardinal Advisors.

Delaying Social Security to 70 can significantly increase monthly benefits, providing a substantial increase in income for retirement. By using annuities and Roth conversions, individuals can create a customized plan to meet their financial goals and enjoy their retirement. This approach can also help minimize taxes and ensure a secure financial future.

Certified financial planner Hans Scheil explains how Roth IRA conversions can save individuals and their heirs millions of dollars in taxes by converting pre-tax money to post-tax money while tax rates are low, allowing for tax-free growth and inheritance.

A couple, Tom and Chelsea, work with a financial planner to create a retirement income plan that ensures they have enough money to last through their 80s and 90s, considering factors such as Social Security, annuities, long-term care, and inflation.

Long-term care is a crucial aspect of financial planning, especially for retirement. Certified financial planner Hans Scheil discusses various insurance options, including indemnity policies, reimbursement policies, and annuity policies, to help individuals prepare for long-term care costs. He emphasizes the importance of understanding the benefits and costs of each policy, as well as the impact of inflation on long-term care expenses.

Choosing between Original Medicare and Medicare Advantage involves understanding the differences between the two paths, including costs, benefits, and flexibility. Original Medicare offers comprehensive coverage with a Medicare Supplement, but comes with higher monthly premiums and no extra benefits. Medicare Advantage provides lower costs and additional benefits, but may have limitations and complexities, particularly with Part D plans and prescription drug coverage.

Maximizing Social Security benefits requires careful planning and consideration of long-term consequences. Certified financial planner Hans Scheil discusses strategies for couples and individuals to optimize their Social Security checks, including delaying benefits and using retirement savings to supplement income. By understanding the impact of their decisions on their financial future, individuals can make informed choices to secure their retirement and achieve financial peace of mind.

Taxes are on sale for the next two years, and it's essential to take advantage of low tax rates by doing Roth conversions, managing Social Security, and planning for retirement. Understanding tax brackets and minimum distributions can help individuals make informed decisions about their finances and secure a tax-free future for their heirs.

Wealthy people have long used trusts to protect their beneficiaries from overspending and poor investment decisions. Now, a new concept called the Beneficiary Restricted Payout Middle Class Trust allows individuals to stipulate how their life insurance or annuity benefits are paid out, providing a layer of protection and control over their assets. This can be especially beneficial for those with large sums of money, such as life insurance payouts or annuity benefits, who want to ensure their loved ones are taken care of without being taken advantage of.

Financial planners like Hans Scheil help people in retirement understand the concept of guaranteed income for life, which allows them to spend and tithe without fear of running out of money. By shifting a portion of their retirement savings into annuities, individuals can receive a monthly check that continues until they pass away, alleviating the risk of outliving their assets and providing a sense of financial freedom.

God has provided a way for people with chronic diseases to get long-term care insurance, which can be a blessing for those who thought they were unable to qualify. An annuity product is used to underwrite long-term care insurance, allowing people with certain conditions to get approved. This product is available in 43 states and can provide tax-free benefits for long-term care.

Understanding Medicare and navigating the complexities of open enrollment can be daunting. Certified financial planner Hans Scheil explains the differences between Medicare Advantage and Medicare Supplement plans, and how the Inflation Reduction Act will impact Medicare Part D plans. He also discusses the importance of preparing for changes in premiums and coverage, and how to make informed decisions about your Medicare options.

Decisions in each area of retirement planning, such as Social Security, Medicare, long-term care, 401k, IRA, and estate planning, can affect other areas and require careful consideration to make right decisions and achieve a secure financial future.

Understanding tax brackets and planning strategies can help individuals keep more of their money. Certified financial planners Hans Scheil and Tom discuss the importance of tax planning, including capital gains tax, qualified dividends, and Roth conversions, as well as special needs trusts and trust tax rates. They also explain the standard deduction and its impact on charitable giving.

Couples can make informed decisions about their assets and beneficiaries to minimize taxes and maximize charitable giving. By understanding the tax implications of inherited assets, such as IRAs and non-qualified stock, individuals can create a wise financial plan that benefits their loved ones and charitable causes.

Guaranteed income for life can be achieved through annuity income writers, which provide a steady stream of income in retirement. Financial planners like Hans Scheil use these products to help clients create a sustainable income stream, taking into account factors such as Social Security benefits, long-term care needs, and insurance products. By delaying the start of income, clients can increase their payout and create a more secure financial future.

Charitable distributions from IRAs can be made tax-free, allowing individuals to give more to their favorite charities while minimizing their tax liability. This strategy can be particularly beneficial for those with large IRAs and high incomes, as it can help reduce their tax burden and increase their charitable giving.

Aging in place requires careful planning, including the distinction between care managers and caregivers, and understanding insurance options such as long term care insurance, annuity products, and hybrid plans to ensure a smooth transition and prevent financial burden on family members.

Financial planners discuss the implications of the Medicare tax, known as ERMA, and how it can be appealed. They also explore the benefits of Roth conversions and the importance of planning for retirement, including managing Required Minimum Distributions.

Hans and Robby are back again this week with a brand new episode! This week's discussion is about the social security trustees report for 2024.  Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. Find us on YouTube: Cardinal Advisors.

Managing social security, Medicare, and tax issues can be overwhelming, especially for the elderly. Certified financial planners like Hans Scheil and IRS enrolled agents like Chris can help resolve tax problems, negotiate penalties, and provide financial guidance to ensure a smooth transition into retirement.

A certified financial planner discusses the importance of setting up a see-through trust for IRA beneficiaries, particularly for families with special needs children. He explains how this type of trust can help protect government benefits and ensure that the child receives the necessary care and support after the parents' passing. The planner also highlights the complexities and tax implications of setting up such a trust, and emphasizes the need for careful planning and consultation with a qualified attorney.

A couple's financial planner discusses the benefits of investing in an annuity to ensure a steady income in retirement, including the potential for tax-free income and long-term care benefits.

When inheriting an IRA, understanding the rules and options can make a significant difference in minimizing taxes and maximizing financial benefits. The SECURE Act has changed the landscape of inherited IRAs, introducing new rules and restrictions. Certified Financial Planner Hans Scheil explains the differences between non-designated beneficiaries, non-eligible designated beneficiaries, and eligible designated beneficiaries, and how to navigate the complexities of inherited IRAs to ensure a secure financial future.

Considering long-term care options can be overwhelming, especially for those who are well-to-do and think they can pay for it themselves. However, this approach can lead to financial strain on family members and inadequate care. Certified financial planner Hans Scheil discusses the importance of long-term care insurance and how it can provide tax benefits, quality care, and peace of mind for individuals and their families.

Navigating Medicare can be overwhelming, especially with the various options available, including Medicare Advantage and Medicare Supplement plans. Understanding the differences between these plans and how they work can help individuals make informed decisions about their healthcare coverage. In this discussion, we explore the complexities of Medicare and provide guidance on how to choose the right plan for your needs.

Understanding milestone ages in retirement can help individuals plan for their financial future. Key ages include 50, where additional money can be put into IRAs and 401ks, 55, where retirees can take money out of 401ks without penalty, 59 and a half, where the 10% penalty for early withdrawals disappears, and 62, 65, 66, 67, and 70, where various social security benefits become available. Additionally, individuals should be aware of RMDs, or required minimum distributions, which begin at age 73 for some and 75 for others.

A certified financial planner discusses the upcoming 2026 tax increase and how it can impact retirement savings. He explains the benefits of Roth conversions and how they can help individuals take advantage of lower tax rates before the tax increase takes effect.

Estate tax thresholds are increasing, but the exemption is scheduled to be cut in half in 2026. Irrevocable life insurance trusts can help keep life insurance out of the estate and avoid probate, ensuring a tax-free benefit for beneficiaries.

When it comes to financial planning, understanding authority and fiduciary responsibility is crucial. Certified financial planners Hans Scheil and Tom Griffith explain how they work with clients to create personalized investment strategies, taking into account their risk profile and financial goals. They discuss the importance of accountability and transparency in the financial planning process, and how their firm, Brookstone Capital Management, provides a framework for making informed investment decisions.

The benefits of tax-free savings through a Roth IRA, compared to traditional tax-deferred savings, are discussed in terms of compound interest and financial planning for retirement.

A new annuity strategy for long-term care benefits is discussed, focusing on people who have difficulty qualifying for traditional long-term care insurance due to health conditions. The annuity offers a unique qualification process, looking at mobility and memory tests instead of health history, and provides tax-free benefits for long-term care needs.

Understanding IRMAA, a tax on Medicare premiums for high-income individuals, and how to appeal it. Certified financial planner Hans Scheil explains the process and provides resources for planning and navigating this complex issue.

Delaying Social Security can have a significant impact on one's retirement income. Certified financial planner Hans Scheil explains the benefits of waiting until age 70 to take Social Security, including a 24% bonus on the full retirement benefit. He also discusses the importance of considering one's job prospects and income before taking Social Security early, and the potential penalties for doing so.

Hans and Robby are back again this week with a brand new episode! This week's discussion is about when it comes to income tax, how much do retirees pay? Don't forget to get your copy of "The Complete Cardinal Guide to Planning for and Living in Retirement" on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. Find us on YouTube: Cardinal Advisors.

Hans and Robby are back again this week with a brand new episode! This week's discussion is about why you should plan out your estate.   Don't forget to get your copy of "The Complete Cardinal Guide to Planning for and Living in Retirement" on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. Find us on YouTube: Cardinal Advisors.

Hans and Robby are back again this week with a brand new episode! This week's discussion is about how to either turn your 401k or IRA into a pension check.   Don't forget to get your copy of "The Complete Cardinal Guide to Planning for and Living in Retirement" on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. Find us on YouTube: Cardinal Advisors.

Hans and Robby are back again this week with a brand new episode! This week's discussion is about IRS and how they want your money.   Don't forget to get your copy of "The Complete Cardinal Guide to Planning for and Living in Retirement" on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. Find us on YouTube: Cardinal Advisors.

A caregiver story highlights the importance of having a clear plan in place for long-term care, including a letter that outlines preferences for care, finances, and spiritual matters, to help loved ones make informed decisions and avoid potential conflicts.

Medicare Part D is a government program that provides prescription drug coverage to seniors and individuals with disabilities. The program has a complex structure, with four phases of coverage, including an annual deductible, initial coverage, a coverage gap, and catastrophic coverage. Understanding the intricacies of Medicare Part D is crucial for individuals to make informed decisions about their healthcare and financial planning.

Understanding your Social Security statement is crucial for making informed decisions about retirement. The statement reveals three basic benefits: retirement, disability, and survivor benefits. Knowing your full retirement age and the amount you can collect at that age is essential. Delaying Social Security benefits can result in a higher monthly check, which can be a significant advantage in retirement. By considering the long-term implications of taking Social Security early, individuals can make more informed decisions about their financial future.

Certified financial planner Hans Scheil discusses the benefits of Roth IRA conversions, especially in 2024 with lower tax rates, and how they can help individuals avoid higher taxes in the future. He also explains the impact of required minimum distributions, Medicare tax, and IRMA on retirement planning and estate planning.

Estate and inheritance taxes can be complex and overwhelming, especially when dealing with large sums of money. Certified Financial Planner Hans Scheil discusses the importance of tax planning and financial planning, particularly in states with inheritance taxes, such as Washington. He shares a case study of a tugboat captain who inherited a large sum of money and had to navigate the complexities of estate taxes. Scheil emphasizes the need to consider the tax implications of inheriting money in an IRA and the importance of setting up life insurance policies properly to avoid estate taxes.

Certified financial planner Tom Griffith explains how single premium immediate annuities can provide a guaranteed income stream in retirement, helping to alleviate worries about running out of money. He discusses various scenarios where these annuities can be used, including delaying social security, inherited IRA distributions, and creating a lifetime income stream.

When it comes to IRAs, understanding which beneficiary designation you're using is crucial to avoid unnecessary taxes and ensure a smooth inheritance process. The SECURE Act changed the rules, and now there are three designations: non-designated beneficiary, non-eligible designated beneficiary, and eligible designated beneficiary. Each has its own set of rules and implications, and knowing which one applies to you can make a big difference in your financial planning and retirement goals.

Certified financial planner Hans Scheil discusses the benefits of purchasing long-term care insurance with IRA money, explaining how it can provide a tax-free way to fund long-term care expenses and leave a refund to beneficiaries if not used. He also explores alternative options, including short-term care recovery insurance, and emphasizes the importance of planning for long-term care to avoid financial burdens on family members.

When it comes to Medicare, understanding the differences between Original Medicare and Medicare Advantage can be crucial in making informed decisions about your health insurance. In this episode, we explore the benefits of having a Medicare Supplement, specifically Plan G, and how it can provide you with more flexibility and options when it comes to your healthcare. We also discuss the importance of shopping around for the best rates and how to navigate the complexities of Medicare and retirement planning.

Understanding tax implications on social security is crucial for retirement planning. The tax formula, introduced in 1993, has not been adjusted for inflation, making it complex. Individuals with lower income may pay little to no tax on their social security, while those with higher income may face higher tax rates. A financial advisor can help create a tax-efficient plan, considering factors like annuities, IRA distributions, and savings accounts to minimize tax liability and ensure a secure retirement.

Understanding tax brackets and exemptions can help individuals plan for retirement and minimize their tax liability. Certified financial planner Hans Scheil explains how to take advantage of lower tax rates in 2024, including the use of Roth conversions and Qualified Charitable Distributions, to create a more tax-efficient retirement plan.

Decisions made in retirement can affect not only the individual but also their children and children's children. Understanding the biblical precedent of making choices, such as serving God or seeking His kingdom, is crucial. The seven worries in retirement planning include Social Security, Medicare, long-term care, 401k and IRA, income, estate planning, and taxes. Each of these areas is interconnected and requires careful consideration to ensure a secure financial future.

Certified Financial Planner Hans Scheil discusses three types of retirement income annuities: single premium immediate annuity, fixed indexed annuity, and multi-year guaranteed annuity. He explains how these tools can be used to create a guaranteed income for life, supplement Social Security, and manage long-term care costs.

Understanding the five-year rule for Roth IRA distributions and how it applies to retirement planning, tax-free savings, and investment strategies. Exploring the benefits of compound interest and how to maximize tax-free savings for long-term financial security.

The concept of long-term care is explored, discussing statistics and facts about long-term care claims, including the likelihood of needing care, the average length of care, and the reasons for long-term care claims. The importance of planning and preparing for long-term care is emphasized, and the role of insurance and financial planning is discussed.

When it comes to Medicare, understanding the differences between original and Advantage plans can be crucial in making informed decisions. Certified Financial Planner Hans Scheil explains how Medicare works, including the various parts and how they affect premiums and deductibles. He also discusses the importance of education and knowledge in navigating the complexities of Medicare, and how it can impact one's financial well-being in retirement.

Focusing on what you do have, rather than what you don't have, can lead to a more positive outlook on retirement and Social Security. Understanding the Social Security earnings test and how it affects your benefits is crucial in making informed decisions about when to take your Social Security. Annuities and IRA 401k plans can also play a significant role in retirement planning, and seeking professional advice from a certified financial planner can help you make the most of your resources.

Certified financial planners Hans Scheil and Tom Griffith discuss the 2024 Medicare tax IRMA rates, explaining how they affect individuals and couples, and providing guidance on how to appeal the extra costs. They also discuss the importance of financial planning, including Roth conversions, to avoid future tax liabilities.

Tithing and tax-proofing IRAs can be a way to serve God and leave a tax-free inheritance to adult children. Certified financial planners Hans Scheil and Tom Griffith discuss strategies for using life insurance to bypass taxes on IRAs and 401Ks, including the use of QCDs and Roth conversions.

Understanding the sequence of returns risk in retirement planning is crucial to avoid running out of money. Financial advisors like Hans Scheil and Tom Griffith discuss strategies to mitigate this risk, including annuities, social security, and income guarantees, to ensure a secure retirement income.

The hosts discuss the growing national debt and its impact on taxes, explaining how the IRS has a lien on retirement accounts and how to plan for efficient tax payments. They recommend strategies for taking advantage of lower tax rates, including distributing IRA or 401k funds, converting to Roth accounts, and using cash value life insurance.

Long-term care insurance can provide lifetime benefits for couples, protecting their family from financial burden and ensuring they receive the care they need. This type of insurance can be funded using 401k or IRA money, offering a death benefit if the policyholders never need care. With a hybrid policy, individuals can set aside funds from their retirement accounts to cover long-term care expenses, providing peace of mind and financial security for their loved ones.

The Medicare decision process involves choosing between original Medicare, Medicare Advantage, and Medicare Supplement plans. Financial planners like Tom Griffith help individuals navigate this complex process, considering factors such as health insurance, premiums, and coverage. Understanding the differences between these plans is crucial to making an informed decision, especially for those approaching retirement age.

Understanding the complexities of Social Security payback and how it affects retirement planning. Certified financial planners Hans Schile and Tom Griffith discuss the importance of knowing one's full retirement age and the potential consequences of taking Social Security benefits too early.

Retirees can minimize their federal income tax by strategically managing their Social Security benefits, other income, and tax-deferred savings. With proper planning, individuals can keep more of their retirement income and avoid large tax bills in certain years.

Certified financial planners Hans Scheil and Tom Griffith discuss the tax benefits of life insurance, annuities, and hybrid long-term care policies, explaining how these products can help individuals and families plan for the future and avoid unnecessary taxes.

When the first spouse passes away, the surviving spouse faces a significant reduction in income, including Social Security checks, and an increase in taxes, which can be devastating. Certified financial planners, Hans Scheil and Tom Griffith, discuss the importance of estate planning to prepare for this scenario and provide tools such as life insurance, lifetime annuities, and Roth conversions to help the surviving spouse maintain a comfortable lifestyle.

Certified financial planners Hans Scheil and Tom Griffith discuss a three-bucket plan for guaranteed income in retirement, using annuities to create a stable financial foundation, and explain how to delay Social Security and manage taxes to ensure a secure financial future.

The IRS has introduced changes to the 10-year rule for IRAs, affecting how beneficiaries must distribute inherited funds. This rule change has significant tax implications, and understanding the new regulations is crucial for individuals with inherited IRAs. Certified financial planners Hans Scheil and Tom Griffith discuss the complexities of the SECURE Act and its impact on inherited IRAs, highlighting the importance of strategic planning to minimize tax liabilities and ensure a smooth distribution of funds.

Hans Scheil and Tom Griffith share their personal stories of dealing with long-term care, highlighting the importance of planning and insurance to protect families from the financial and emotional burden of caregiving.

When approaching Medicare, individuals must decide between Original Medicare with a supplement, Medicare Advantage, or a combination of both. The choice depends on factors such as health status, budget, and personal preferences. While Medicare Advantage plans offer additional benefits like gym memberships and dental coverage, they often come with higher out-of-pocket costs and limited network access. In contrast, Original Medicare with a supplement provides more flexibility in choosing doctors and hospitals, but may require additional expenses for drug coverage and other services.

Certified financial planners Hans Scheil and Tom Griffith discuss common fears and pitfalls that can lead to running out of money in retirement, and share strategies for mitigating these risks, including delaying Social Security, getting good Medicare insurance, and planning for long-term care and taxes.

Certified financial planner Hans Scheil and Tom Griffith discuss the Net Investment Income Tax, a 3.8% tax on investment income, and provide tax planning strategies to minimize its impact, including reducing income below thresholds, reducing sources of income subject to the tax, and utilizing tax-efficient investments such as municipal bonds and tax loss harvesting.

Providing for the future of special needs adults requires careful planning, including setting up a special needs trust to protect their benefits and ensure their well-being after their parents are gone. This involves assembling a team of experts, including an attorney, accountant, investment advisor, and trustee, to manage the trust and make decisions on behalf of the adult child. The parents also need to consider their own long-term care and plan for the possibility of incapacitation, as well as explore alternative options such as the ABLE account and life care plan.

Certified financial planners Hans Seil and Tom Griffin discuss the process of rolling over a 401k into an IRA, exploring the benefits and potential pitfalls of this financial move, including tax implications and the importance of working with a financial professional to ensure a smooth transition.

Developing a distribution plan for retirement accounts is crucial to avoid tax infestation and ensure a smooth transition into retirement. Certified financial planners like Hans Scheil and Mike Zwick emphasize the importance of understanding the purpose of retirement accounts, which is to provide for one's retirement, and not just to accumulate wealth. They discuss strategies such as converting traditional 401k accounts to Roth IRAs, which can provide tax-free growth and withdrawals. By taking a proactive approach to retirement planning, individuals can make informed decisions and create a sustainable income stream for their golden years.

The importance of long-term care insurance in alleviating family burden and guilt, particularly for caregivers, is discussed. It's revealed that traditional long-term care insurance is not the only option, and hybrid policies that combine life insurance and long-term care benefits can be more suitable for many people. The benefits of these hybrid policies, including tax-free benefits and the ability to pay for long-term care without depleting life insurance, are explored.

Understanding Medicare and its complexities can be overwhelming, but certified financial planner Hans Scheil is here to simplify the process. He explains the different options, including original Medicare, Medicare Advantage, and supplements, and helps listeners make informed decisions about their healthcare coverage.

Certified financial planner Hans Scheil discusses the importance of taking Social Security early, especially when it comes to balancing income needs and tax implications. He presents two case studies, Harry and Liz, and Andy and Ruth, where he recommends taking Social Security early to ensure a steady income stream and minimize tax liabilities. Hans also explains the benefits of annuities and Roth conversions in creating a tax-free existence in retirement.

When you reach Medicare, the rules for Health Savings Accounts change, and it's essential to understand how to navigate these changes to avoid penalties and maximize tax benefits. Contributing to an HSA requires a high deductible health plan, and once you're on Medicare, you can no longer contribute to the account. However, you can still use the balance to pay for medical expenses, including Medicare premiums, and even pay for long-term care insurance. It's crucial to understand the rules and regulations surrounding HSA distributions, especially when it comes to taking money out for non-medical expenses, which can result in penalties and taxes.

Many people use their IRAs and 401ks as an estate planning strategy, but this approach can be flawed due to taxes and other factors. A certified financial planner discusses alternative strategies, including Roth conversions, life insurance, and qualified charitable distributions, to minimize taxes and create a more effective estate plan.

A couple in their 60s is facing uncertainty in their retirement, with a significant loss in their 401k and concerns about managing their social security benefits. Certified financial planner Hans Scheil helps them create a plan to delay social security, invest in annuities, and implement Roth conversions to achieve tax-free income for life.

Certified Financial Planner Hans Scheil discusses the benefits of a Roth IRA, particularly for those with high incomes, and explains the backdoor and mega backdoor Roth IRA strategies for accessing tax-free savings in retirement, while also considering social security and investments.

A long-term care policy can provide a monthly benefit for informal care, allowing individuals to spend the money on anything they want, including hiring a family member or paying for a home healthcare agency. This type of policy also offers a death benefit to heirs, and some policies even provide international coverage. Financial planners emphasize the importance of having a plan in place for long-term care, as it can be a significant burden on families. They also discuss hybrid policies that combine life insurance and long-term care benefits, providing a larger life insurance benefit if the individual does not need long-term care.

Certified financial planner Hans Scheil explains the difference between Medicare Advantage and Medicare Part A and B, discussing the importance of understanding Medigap policies to avoid financial exposure. He highlights the benefits of Plan G, which pays most medical expenses, but notes that it can create a problem when premiums rise, and advises listeners to shop around for better rates.

Certified financial planner Hans Scheil discusses the importance of planning for long-term care and the use of annuities as a solution to manage healthcare costs and taxes. He explains the different options available, including annuity care, forecare, and bridge, and how they can be used to create a tax-free income stream for long-term care.

Tax rates are historically low, and with the Tax Cuts and Jobs Act set to expire in 2026, individuals may want to consider taking advantage of low tax rates by converting pre-tax IRA or 401k funds to Roth accounts, which can provide tax-free income in retirement.

Designating beneficiaries for life insurance, retirement accounts, and other assets can help avoid probate and ensure that loved ones receive the intended funds. Certified Financial Planner Hans Scheil explains the importance of reviewing and updating beneficiary designations to ensure they are current and accurate.

Certified Financial Planner Hans Scheil discusses the 10 Principles of Investing Success, including embracing market pricing, resisting past performance, and managing emotions to achieve long-term financial goals.

When reaching age 73, individuals with multiple IRAs and 401ks must take required minimum distributions, which can be aggregated for traditional IRAs but not for 401ks. Consolidation and annuities can simplify the process, but it's essential to understand the rules and consult a professional to avoid penalties.

Hans Scheil, a certified financial planner, discusses the importance of long-term care insurance and its tax implications on Finishing Well. He explains how tax-qualified policies can provide tax-free benefits and how they work in conjunction with the IRS tax code. Hans also shares his personal experience with his mother-in-law's long-term care and how having a policy would have alleviated the pressure on his family.

Understanding your Social Security statement is crucial for retirement planning. It serves as a map, providing essential information about your benefits, including your full retirement age, projected benefits, and Medicare information. By analyzing this statement, you can make informed decisions about when to take your Social Security check, how to maximize your benefits, and how to plan for taxes on your social security income.

For high-income retirees, understanding hidden taxes like the Medicare tax, Social Security tax, and investment income tax is crucial. The Modified Adjusted Gross Income (MAGI) formula plays a significant role in determining these taxes. A certified financial planner discusses how to navigate these complexities and plan for a smoother retirement.

Discussing the importance of life insurance for couples in their 60s and 70s, including its role in estate planning, tax planning, and long-term care. Exploring the benefits of whole life insurance and term insurance, and how they can be used to provide a tax-free death benefit to loved ones.

Darrell Bock and Hans Scheil discuss the complexities of Medicare and Social Security, explaining the importance of understanding the rules and exceptions to make informed decisions about healthcare and retirement planning.

Discover how deferred annuities can provide a guaranteed income for life, ensuring financial security in retirement. Learn how these products can help cover long-term care expenses and provide a predictable income stream, giving you peace of mind and financial freedom.

Hans Scheil, a certified financial planner, discusses the importance of having a strategy for required minimum distributions from IRAs and 401ks, and how it can be used to leverage resources for the kingdom, for children, and for one's spouse, while also considering tax planning and estate planning.

Medicare started simple in 1966, but over the years, it has become complicated due to numerous changes, including the introduction of Medicare 10, which standardized Medicare supplement policies, and Medicare Advantage, which offers managed care plans with private insurance companies. The government's attempt to regulate and control costs has led to a complex system with penalties, enrollment periods, and various plans, making it challenging for individuals to navigate. A financial advisor like Hans Scheil can help individuals understand the ins and outs of Medicare and make informed decisions about their healthcare coverage.

Exploring the seven worries of retirement, including social security, medicare, long-term care, IRA 401k, lifetime income, estate planning, and income taxes, to create a complete plan for a fulfilling retirement.

Estate planning involves arranging for the management and disposition of money and assets for incapacity and after death. It's essential to plan for incapacity, including power of attorney and long-term care, as well as after death, including wills, trusts, and beneficiary designations. Life insurance can be a great equalizer in second marriages, and taxes for heirs are also a crucial consideration.

Certified financial planner Hans Scheil discusses the importance of understanding acceptable levels of risk and reward in investment strategies, particularly for retirees. He explains how to assess a plan, not just relying on risk tolerance, but also considering factors such as net worth, investment experience, and financial goals.

Understanding the difference between IRA contributions and Roth conversions can help individuals optimize their retirement savings and minimize taxes. Contributions involve putting pre-tax money into an IRA or 401k, while conversions involve turning pre-tax money into tax-free money. By exploring options such as Roth IRAs and 401k plans, individuals can create a tax-free income stream in retirement and avoid the burden of taxes on withdrawals.

Long-term care concierge services aim to simplify the process of accessing care and support for individuals and their families. These services often include care coordination, caregiver support, and claims coordination, helping to navigate complex healthcare systems and ensure that patients receive the care they need.

Certified financial planner Hans Scheil discusses the challenges of Medicare for high-income retirees, including the IRMA surcharge and the importance of tax planning and financial planning to navigate these complexities and make informed decisions about healthcare and retirement.

Biblical and practical knowledge are examined to assist families in managing social security, Medicare, IRAs, long-term care, life insurance, investments, and taxes. A certified financial planner discusses tax rates and brackets for 2023, and how to strategically plan for retirement by pulling money out of IRAs and paying taxes on it, rather than leaving it to be taxed at a higher rate in the future.

Discussing the importance of having a will and proper estate planning to ensure a smooth transition for your loved ones, including managing inheritance, life insurance, and avoiding probate.

A certified financial planner discusses the importance of planning for retirement income, exploring strategies to ensure a steady stream of money in old age, and how to balance the desire to save for the future with the need to enjoy the present.

Certified Financial Planner Hans Scheil discusses the benefits of a hybrid life insurance policy that combines long-term care and life insurance, providing tax advantages and a guaranteed death benefit. He explains how this policy can be funded with IRA money and how it can be used to cover long-term care expenses without depleting the policy's death benefit. Hans also highlights the policy's tax benefits, including the ability to take a lump sum payment from the IRA without incurring taxes, and how it can be used to cover both spouses' long-term care expenses.

Certified financial planner Hans Scheil and his guest discuss the complexities of Medicare 2023, including the decision to sign up for original Medicare or a Medicare Advantage plan, and the importance of understanding the pros and cons of each option to make an informed decision about one's health insurance and financial planning in retirement.

Denying oneself and saving can lead to gaining what one truly wants, including financial security in old age. However, timing social security benefits requires careful consideration of individual circumstances and long-term goals.

Hans Scheil, a certified financial planner, discusses the concept of multi-year guaranteed annuities as a way to earn interest on cash reserves, providing a guaranteed income stream for a fixed period of years, and exploring options for tax-deferral and liquidity.

The Social Security cost of living increase for 2023 is 8.7%, which is the largest increase in decades. This increase is a result of high inflation, and it will provide a significant boost to Social Security recipients. However, it also puts a strain on the Social Security trust fund, and experts warn that the system is still facing significant challenges in the long term. Financial planners and experts discuss the implications of this increase and offer advice on how to navigate the complexities of retirement planning and financial stability.

Inherited IRAs and 401ks can be complex, especially with the SECURE Act's 10-year rule. Beneficiaries must take required minimum distributions, which can impact tax rates and income needs. Financial planners like Hans Scheil can help strategize around this, including using annuities to evenly distribute funds over 10 years.

Understanding Medicare options is crucial for retirees, with two main paths: Original Medicare and Medicare Advantage. A Medicare Supplement can be added to Original Medicare, while Medicare Advantage plans often include a network and extra benefits. Knowing where you are on the Medicare spectrum is key, and it's essential to make informed decisions during the annual enrollment period.

Creating a plan for long-term care can protect your family from financial and emotional burdens, allowing you to maintain independence and dignity as you age. By considering long-term care insurance and planning ahead, you can ensure that your loved ones are prepared to care for you and that you receive the care you need in a way that respects your values and wishes.

Creating a plan for long-term care can protect your family from crisis and allow you to maintain independence and dignity. By considering your options and making a plan, you can ensure that you receive the care you need and that your loved ones are not burdened with the responsibility of caring for you.

Certified financial planner Hans Scheil explains how to manage Social Security income and other income to minimize federal income taxes in retirement, using examples of individuals who have successfully implemented this strategy to keep more of their money.

Leveraging life insurance as a tax shelter can provide a tax-free savings account for retirement, allowing individuals to create an income stream and transfer wealth to the next generation without incurring taxes. This strategy can also be used to pay for long-term care and provide a structured settlement for beneficiaries.

A couple's financial planner, Hans Scheil, helps them create a lifetime income plan to ensure a steady income stream in retirement, considering factors such as Social Security, Medicare, and long-term care, to achieve financial security and peace of mind.

The SECURE Act has made significant changes to IRA beneficiaries, affecting how wealth is transferred to the next generation. The new rules are more restrictive, with a 10-year rule for non-spouse beneficiaries, making IRAs less favorable for wealth transfer. Financial planners like Hans Scheil recommend alternative strategies to minimize taxes and ensure a smooth transition of wealth.

Certified financial planner Hans Scheil discusses the importance of planning for long-term care, including the use of long-term care insurance and IRAs to minimize costs and ensure a peaceful and enjoyable retirement. He shares his experience working with clients to create personalized plans and emphasizes the need to consider the emotional and financial implications of long-term care on individuals and their families.

Avoiding Medicare penalties requires understanding creditable coverage and making informed decisions about insurance during retirement. A certified financial planner explains the importance of assessing group insurance and the consequences of delayed enrollment.

The discussion centers around the solvency of Social Security for 2022, exploring the trust fund's $2.85 trillion in assets, payroll tax revenue, and interest earnings, while addressing concerns about the system's ability to meet future benefits.

Becoming familiar with tax brackets is crucial for retirees to minimize taxes and maximize their wealth. Certified financial planner Hans Scheil explains how to plan distributions from qualified money according to how much tax you can stand, and how to take advantage of lower tax rates before they close.

Managing legal documents and power of attorney is crucial for setting up a secure financial future, especially for retirees. Certified financial planner Hans Scheil discusses the importance of having the right legal documents in place, including general power of attorney, to ensure that family members can act on behalf of loved ones in case of incapacitation.

The concept of guaranteed income for life is explored as a potential solution for retirees, offering security and peace of mind. A case study is presented of a medical doctor who is looking to secure his retirement income and protect against long-term care costs, highlighting the importance of careful planning and consideration of various options, including annuities and Roth IRA conversions.

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Having a plan in place for long-term care is crucial for retirees, including discussions on managing healthcare decisions, financial institutions, and where to receive care. Certified financial planners, Hans Scheil and Tom Griffith, discuss the importance of having legal documents in place, such as healthcare and durable power of attorney, and how to fund long-term care plans, including insurance options and tax implications.

Hans Shile, a certified financial planner, discusses dental coverage on Medicare, explaining that Medicare itself doesn't offer dental or vision insurance, but Medicare Advantage plans sometimes include these benefits. He emphasizes the importance of prioritizing medical coverage over dental and vision, and highlights the limitations of Medicare Advantage plans, including network restrictions and limited dental coverage.

A couple's Social Security check was initially $336.50 a month, but after consulting a financial planner, they were able to increase it to $3,200 a month by taking advantage of spousal benefits and optimizing their retirement income strategy. The planner divided their $940,000 401k into three buckets: a growth account, a safety account, and a future income account, which provided them with guaranteed income for life and allowed them to retire comfortably.

Planning for retiree tax brackets involves considering a multi-year Roth conversion strategy to minimize taxes and maximize savings. Certified financial planner Hans Scheil explains how to apply hearts to wisdom by making informed decisions about IRA and 401k money, and how to use Roth conversions to pay taxes now and enjoy tax-free growth in the future.

Estate planning for middle-class people involves understanding the estate tax exemption and how it affects their financial situation. Certified financial planner Hans Schiel explains how to minimize taxes on inherited assets, including IRAs and capital gains, and how to use life insurance to pay off taxes. He also discusses the importance of beneficiary designations and qualified charitable distributions.

Retirees can earn substantially more interest on a very safe vehicle, the multi-year guaranteed annuity, by tying up their money for a fixed term. This allows for a higher interest rate and liquidity features, such as taking out 10% of the value each year without penalty. The annuity can be purchased in an IRA or out of an IRA, and the interest can be tax-deferred or tax-free in a Roth IRA.

Certified financial planner Hans Scheil discusses the 10-year rule for IRA beneficiaries, explaining how it affects tax planning and wealth transfer. He also explores alternative strategies, such as using Roth IRAs, QCDs, and life insurance, to minimize taxes and maximize charitable giving.

Families struggling with long-term care insurance claims can face complex and frustrating situations. Certified financial planner Hans Scheil shares his expertise on navigating the application process, understanding the definition of care, and getting the I's dotted and T's crossed to ensure claim payments. He emphasizes the importance of planning for retirement and long-term care, and offers resources for those seeking help.

Understanding Medicare by itself, without insurance supplements, is crucial for retirees. Original Medicare covers 60 days in the hospital with a $1,556 liability, and 80% of medical expenses with a 20% out-of-pocket payment. Medicare Advantage plans offer better coverage but may have gaps in long-term care. A Medicare supplement can fill these gaps, but it's essential to understand the differences between plans and make informed decisions.

A certified financial planner helps clients navigate Social Security spousal benefits, including restricted applications and disability benefits, to maximize their retirement income and improve their financial well-being.

The standard deduction for 2022 has simplified taxes for many retirees, but it also presents opportunities for strategic planning. Certified Financial Planner Hans Shile discusses how the standard deduction can be used to increase charitable giving, reduce tax liability, and ensure long-term care. He also shares strategies for retirees to maximize their income and minimize taxes, including the use of qualified charitable distributions and short-term care plans.

Managing social security, Medicare, IRAs, long-term care, life insurance, investments, and taxes are crucial aspects of retirement planning. A trust can be beneficial for managing assets beyond one's lifetime, avoiding probate, and protecting special needs children. However, not all trusts are created equal, and some may be unnecessary or even counterproductive. Understanding the purpose and proper use of trusts is essential for making informed decisions about one's financial future.

A certified financial planner helps a client navigate her financial situation, including investing in multi-year guaranteed annuities to achieve her goals and ensure a secure financial future.

Hans Scheil, a certified financial planner, discusses the importance of planning for long-term care, including managing social security, Medicare, and Veterans Aid and Attendance. He shares stories of families who have navigated these issues and emphasizes the need for open communication and financial planning to ensure a smooth transition.

Inheriting an IRA can be a complex process, with new tax laws and regulations affecting most people before they pass away. Certified financial planner Hans Scheil explains how to navigate the SECURE Act and make informed decisions about IRA inheritances, including the importance of planning and tax-free savings through Roth conversions and life insurance policies.

Using IRA money to create a long-term care life insurance hybrid can provide tax-free benefits for retirees. This strategy involves moving a portion of IRA funds into an annuity that pays premiums for long-term care insurance, which can also serve as life insurance. By doing so, retirees can create a tax-free benefit for their heirs and have more options for long-term care, including the ability to receive care at home rather than in a facility.

Shopping Medicare supplements can be a daunting task, but understanding the standardized policies and how to compare prices can make it easier. With the help of a certified financial planner, listeners can learn how to navigate the system and make informed decisions about their healthcare coverage.

The concept of full retirement age and its impact on Social Security benefits is a complex issue, with changes over the years affecting the age at which individuals can receive their full benefits. Understanding the intricacies of Social Security and making informed decisions about when to take benefits is crucial for retirees, and seeking guidance from certified financial planners like Hans Scheil can provide valuable insights.

Retirees can benefit from understanding how federal and state income taxes apply to their social security checks, and how to minimize their tax burden through strategies like Roth conversions and tax-free income. Certified financial planner Hans Shiel explains how to navigate the complex tax system and make informed decisions about retirement planning and financial planning.

A certified financial planner explains the concept of a fiduciary, its importance in financial planning, and how it benefits individuals in retirement, including managing investments, insurance, and taxes.

The concept of a Roth IRA is discussed as a tax-free growth strategy for retirement planning, allowing individuals to pay taxes now and avoid taxes in the future. The benefits of a Roth IRA include tax-free growth, no required minimum distributions, and the ability to convert traditional IRAs to Roth IRAs. The importance of planning for retirement and considering factors such as Social Security, Medicare, and long-term care is also emphasized.

Hans Scheil, a certified financial planner, discusses the importance of planning for long-term care, a critical aspect of retirement planning. He compares traditional long-term care insurance to hybrid long-term care policies, highlighting the benefits and drawbacks of each option. Hans emphasizes the need for customized planning to ensure that individuals have the necessary resources to cover long-term care expenses, which can be devastating to a retirement plan.

Understanding the benefits of waiting until full retirement age to file for Social Security, and how it can impact taxation and overall retirement income. A certified financial planner shares a case study of a client who was able to maximize her Social Security benefits and create a more secure retirement.

Faithful stewardship of God's money is crucial for a successful retirement. Certified financial planner Hans Scheil shares his expertise on managing Social Security, Medicare, long-term care, IRAs, 401k, and taxes to finish well. He emphasizes the importance of estate planning, tithing, and giving to charitable causes, highlighting the benefits of Qualified Charitable Distributions and Roth IRAs.

Considering the importance of prioritizing long-term care in retirement planning, certified financial planner Hans Seil discusses the benefits of setting aside a portion of retirement savings in a life insurance policy or annuity policy to pay for long-term care expenses. He emphasizes the value of taking a long-term view and planning ahead to ensure financial security in old age.

Certified financial planner Hans Schile and host discuss the impact of Medicare tax on retirees, specifically the 'Irma' surcharge, and strategies for minimizing its effects, including tax planning, Roth IRA conversions, and qualified charitable distributions.

Certified financial planner Hans Scheil discusses the third option for Medicare coverage, the high-deductible Plan G, which combines Original Medicare with a Medicare supplement. He explains how this option can be more cost-effective for individuals who want to choose their own doctors and have a high likelihood of not incurring high medical expenses.

Exploring the concept of 'It Takes Three to Tango' in financial planning, where safety, liquidity, and growth are prioritized to create a diversified portfolio. Certified Financial Planners Hans Shiel and Tom Griffith discuss how to balance these three elements to achieve financial stability and security in retirement.

Certified financial planner Hans Scheil discusses tax-free retirement savings, including the benefits of Roth IRAs and how to convert tax-deferred accounts to tax-free accounts, while also exploring alternative options like maximum-funded life insurance policies to leverage tax-free money for beneficiaries.

When people pass away, their families are often left in shock and chaos, struggling to pay bills and settle estates. Whole life insurance can provide immediate cash to help alleviate this burden, and can be especially beneficial for blended families where assets may be split between spouses and children from previous marriages.

In this episode of Finishing Well, certified financial planner Hans Shile discusses 2022 tax rates for retirees and how they can plan their finances to minimize taxes and maximize their after-tax income. He explains the concept of Roth conversions and how it can help individuals pay taxes now or later, and also discusses the importance of understanding the standard deduction and how it can affect tax brackets.

Having a power of attorney can provide peace of mind and financial security for individuals and their families. It allows a trusted person to make decisions on their behalf in case of mental incapacitation. However, it's essential to choose the right person and consider the potential pitfalls, such as the power of attorney being deceased or used for nefarious purposes.

When turning 65, individuals face complex decisions regarding Medicare, including whether to sign up for part A and part B, and choosing between original Medicare and Medicare Advantage plans. Certified financial planner Hans Scheil provides guidance on navigating these choices and avoiding penalties for late signup.

Certified financial planner Hans Scheil discusses the importance of understanding required minimum distributions, or RMDs, in retirement planning. He explains how RMDs can impact tax bills and suggests strategies for managing RMDs, including IRA conversions to Roth IRAs and qualified charitable distributions, or QCDs, which can provide tax benefits and support charitable giving.

IRAs are a complex and often misunderstood aspect of retirement planning, with rules governing beneficiary designations, required minimum distributions, and tax implications that can significantly impact an individual's financial situation. Understanding these nuances is crucial to making informed decisions about one's IRA and ensuring a smooth transition of wealth to future generations.

Financial planner Hans Scheil explains how to create a 'money ladder' strategy to maximize interest rates and maintain liquidity, using multi-year guaranteed annuities and insurance products to secure retirement income.

Certified financial planner Hans Scheil discusses the good news of Social Security, including a 5.9% COLA increase for 2022 and the trust fund's $3 trillion reserve. He emphasizes the importance of understanding the facts and not being misled by misinformation, and encourages listeners to create a My Social Security account to plan their retirement and make informed decisions about when to start receiving benefits.

A wake-up call for individuals to consider estate planning and the potential impact of the Build Back Better Act on estate taxes, including the return of the estate tax and the reduction of exemptions, which could affect small businesses and farms.

Exploring the Medicare 10 for 2022, a concept that simplifies the complexities of Medicare supplement plans, allowing individuals to make informed decisions about their healthcare coverage. Certified financial planner Hans Shile discusses the benefits of the Plan G supplement, including reduced deductibles and copayments, and the importance of shopping around for the best rates and coverage.

The concept of showbread in the tabernacle has a biblical precedent for God's provision, mirroring the idea of Medicare Advantage plans providing coverage in the presence of enemies. However, these plans come with out-of-pocket maximums, deductibles, and copayments, which can be a concern for some individuals.

Exploring the complexities of Medicare Part D for 2022, including deductibles, formularies, and coverage gaps, to help individuals make informed decisions about their healthcare costs and financial planning for retirement.

Navigating the complexities of Medicare can be overwhelming, but understanding the different parts and options can make a significant difference in one's healthcare and financial well-being. Certified financial planner Hans Scheil and his guests discuss the importance of creating a 'map' to understand Medicare, including the annual enrollment period, Medicare Advantage plans, and Part D drug plans.

The concept of home as a place of comfort and security is deeply rooted in biblical teachings, with God wanting a home to be with humanity. However, as people age, they may require custodial care, which can be a significant financial burden. Long-term care insurance can provide financial resources to help individuals stay in their homes, with options including traditional long-term care insurance, short-term care, and hybrid long-term care insurance. These policies can help individuals plan for their future and make informed decisions about their care.

Leaving a spiritual footprint through financial planning, Hans Scheil discusses the importance of considering survivor benefits, life insurance, and estate planning for retirees, highlighting a personal story of a friend who prepared for his wife's financial well-being after his passing.

Certified Financial Planner Hans Shile discusses the importance of considering the standard deduction in retirement planning, highlighting how it can impact tax-free income and financial decisions. He emphasizes the need for proactive planning, especially in the 60s and 70s, to ensure a smooth transition into retirement and to make the most of available deductions and tax benefits.

Understanding Medicare and its various options can be overwhelming, especially when it comes to navigating deductibles, copayments, and network limitations. Certified financial planner Hans Shile explains the concept of 'Medicare Naked' and how it can help individuals understand their exposure to healthcare costs. He also discusses the benefits of Medicare Supplements, including the plan G, and how they can provide comprehensive coverage for out-of-pocket expenses.

Bypassing probate is a critical aspect of estate planning, allowing assets to pass directly to beneficiaries without going through the lengthy and costly probate process. Financial planner Hans Scheil discusses various strategies, including beneficiary designations, trusts, life insurance, and annuities, to help individuals avoid probate and ensure their assets are distributed according to their wishes.

Discover how qualified charitable distributions can help you leverage your IRA for the kingdom, reduce your tax bill, and make a lasting impact on your church and community. Learn from certified financial planner Hans Scheil as he shares expert advice on how to plan for and live in retirement, and how to use QCDs to maximize your charitable giving and minimize your tax liability.

When planning for retirement, it's essential to consider multiple categories, including Social Security, Medicare, long term care, estate planning, retirement income, and income taxes. A comprehensive plan can help individuals 'level up' and achieve their financial goals, but it requires careful consideration of each category and how they intersect. By understanding what their money is for and how to allocate it effectively, individuals can create a plan that supports their needs and desires, both in retirement and beyond.

Preparing for the coming storm of long-term care requires a plan, including financial and emotional support, to ensure the well-being of oneself and one's family. This involves understanding the risks and consequences of long-term care, including the financial burden on families and the importance of having a plan in place to avoid conflict and ensure a smooth transition.

When turning 65, it's crucial to understand Medicare penalties and coverage options to avoid costly delays and penalties. Medicare Part B and Part D have penalties for late enrollment, with Part B penalties increasing 10% per year and Part D penalties stacking at 1% per month. It's essential to sign up for Medicare on time and explore creditable coverage to avoid these penalties.

When deciding when to take Social Security, retirees must consider various factors, including their age, full retirement age, spousal benefits, retirement date, needed and desired income, life expectancy, and other yearly taxable income. A certified financial planner can help evaluate these factors and create a personalized plan to maximize benefits and minimize taxes.

When it comes to estate planning and retirement, a 'step up in basis' can be a valuable tool for avoiding capital gains taxes. This concept allows beneficiaries to inherit assets with a higher tax basis, reducing the tax burden on appreciated assets. By understanding this concept, individuals can make informed decisions about their financial planning and estate distribution, potentially unlocking hidden treasures in their assets.

When a person passes away, their survivors need money to cover expenses, including funeral costs, lost income, and ongoing expenses. Life insurance can provide a tax-free sum of money to help with these costs, and can be purchased even in retirement. There are different types of life insurance, including guaranteed universal life policies and final expense insurance, which can be tailored to individual needs and circumstances.

Managing social security, Medicare, and retirement income can be a daunting task, but Hans Scheil offers a solution with the 'bucket strategy', dividing retirement funds into short-term and long-term accounts to ensure financial security and alleviate longevity risk.

Creative ways to pay for long-term care insurance are explored, including using IRA or 401k money in a tax-efficient way to purchase hybrid long-term care policies. A certified financial planner shares a case study of a couple who used this strategy to protect their assets and ensure their special needs son's care is taken care of.

Denying oneself and trusting God is a crucial concept when planning for long-term care, as it requires acknowledging one's limitations and seeking outside help. Hybrid long-term care insurance policies combine life insurance with long-term care benefits, allowing individuals to access tax-free funds for care needs. Experts like Hans Scheil emphasize the importance of planning ahead, especially in one's 50s and 60s, to ensure affordability and accessibility of these policies.

Darrell Bock and Hans Scheil discuss the concept of Aunt Irma, a Medicare surtax on high-income individuals, and explore strategies for managing and reducing the tax burden, including planning, appeals, and income management.

Hans Scheil, a certified financial planner, discusses the concept of a Social Security 'do-over' with his client, where individuals can withdraw their Social Security application and restart the process if they've made a mistake or have changed circumstances. They explore how this can benefit individuals who have started their Social Security checks early and are now facing financial challenges or changes in their income.

Jesus taught that the kingdom of heaven is like a treasure that's hidden in a field, requiring a sacrifice to obtain. Similarly, tax-free savings can be achieved by paying taxes now, rather than later, and using strategies like Roth IRA conversions and life insurance to secure one's inheritance and legacy.

Guarding the good deposit through the Holy Spirit is crucial, just like managing your estate and ensuring your assets are transferred on demand to your loved ones. Beneficiary designations can make all the difference in avoiding probate and ensuring your financial wishes are carried out.

A couple with almost a million dollars in a 401k is worried about running out of money in retirement. A certified financial planner helps them create a plan using annuities and other financial tools to ensure a steady income for life, including long-term care benefits.

When considering retirement accounts, understanding the difference between tax-free and tax-deferred options is crucial. Traditional IRAs allow for tax-deferred growth, but taxes are paid upon withdrawal, whereas Roth IRAs require after-tax contributions, resulting in tax-free growth and withdrawals. This distinction can significantly impact financial planning and estate distribution.

As we navigate life's transitions, having a plan in place can make all the difference. It's not just about financial security, but also about ensuring our loved ones are emotionally and spiritually supported. By discussing our wishes and making informed decisions, we can finish well and leave a lasting legacy for our families.

Certified financial planner Hans Scheil explains the benefits of Medicare Supplement Plan G, including its ability to cover 20% of Medicare-approved charges and excess charges, as well as its foreign travel emergency benefit. He also discusses the importance of choosing the right insurance company and agent to ensure competitive pricing and good service.

When one spouse passes away, the household income drops significantly, often by half, due to the loss of one Social Security check. This can be a shock, especially if the couple was living on two checks, one for each spouse. To mitigate this loss, couples can consider purchasing life insurance to replace the lost income, ensuring their surviving spouse can maintain their standard of living. This planning is crucial, especially for those in their 60s and 70s, as it can make a significant difference in their financial security and ability to leave a legacy for their loved ones.

Understanding how Social Security taxes work and strategies to minimize tax liability in retirement, including the use of Roth IRAs and Qualified Charitable Distributions.

Certified financial planner Hans Scheil discusses life insurance options for individuals with pre-existing conditions, exploring whole life policies and easy issue insurance, and highlighting the importance of beneficiary designations and estate planning in retirement.

The concept of discipleship is applied to financial planning, where a Certified Financial Planner, or CFP, is an enthusiastic learner who studies and loves to learn about financial planning. A CFP is a fiduciary, acting in the best interest of their clients, and is committed to ongoing learning and education.

Calculating your RMD, or required minimum distribution, is crucial for a smooth retirement. The IRS requires distributions from traditional IRAs and 401ks starting at age 72, but a smart strategy can minimize taxes and create a sustainable income stream. By understanding the concept of RMDs and developing a distribution plan, individuals can ensure a comfortable retirement and make the most of their IRA assets.

Preparing for long term care and pre existing conditions can be a daunting task, but with the right solutions, individuals can ensure they receive the necessary care without breaking the bank. Short term care insurance can provide coverage for the first $50,000 or $100,000 of the bill, giving individuals peace of mind and financial security. With options available for those with pre existing conditions, individuals can take control of their healthcare and make informed decisions about their future.

Understanding the two distinct routes of Medicare and making informed decisions about long-term care and financial planning is crucial for a secure retirement. With thousands of dollars at stake, choosing the right path can be overwhelming, but with the right guidance, individuals can make informed decisions that benefit their health and finances.

Certified financial planner Hans Scheil helps families plan for retirement, discussing Social Security benefits, spousal benefits, and financial planning strategies to ensure a comfortable retirement. He emphasizes the importance of understanding how Social Security works and how it can impact one's financial future, particularly for couples.

Certified financial planner Hans Scheil helps families navigate retirement tax savings by examining biblical and practical knowledge to assist in managing social security, Medicare, IRAs, long-term care, life insurance, investments, and taxes.

When entering a second marriage, it's essential to prioritize the surviving spouse and consider long-term care and life insurance to protect the estate and family dynamics.

As people approach retirement, their financial priorities shift from growth and risk-taking to predictability, safety, and security. Certified financial planner Hans Shiel explains how diversification, risk management, and understanding available options can help individuals create a stable income in retirement, considering factors like social security, taxes, and investment returns.

When contributing to an IRA after 70, consider the Secure Act's changes to required minimum distributions and the benefits of a Roth IRA. Learn about qualified charitable distributions and how to distribute IRA funds in a way that minimizes taxes and ensures a steady income in retirement. Don't forget to check your beneficiaries on your IRA and other assets to ensure they align with your estate plan.

Certified financial planner Hans Scheil discusses the concept of self-insurance for long-term care, explaining that it's often a default choice rather than a deliberate plan. He proposes creating a plan by design, including setting aside funds for long-term care and understanding the tax implications. Hans also introduces a specific insurance product that allows individuals to deposit funds, which grow at interest and can be used for long-term care expenses, providing a tripler benefit and tax-free growth.

Understanding the four Medicare enrollment periods, including the annual enrollment period, open enrollment period, special enrollment period, and initial enrollment period, is crucial for making informed decisions about Medicare coverage. Knowing the rules and regulations surrounding these periods can help individuals avoid penalties and fines, such as lifetime penalties for late enrollment. It's essential to seek professional help to navigate these complex periods and make the best decisions for one's Medicare coverage.

Social Security checks are set to increase by 1.3% in 2021, a relatively low rate due to low inflation. This increase is based on the cost of living adjustment and is not a handout from the government. Financial planners like Han Shai emphasize the importance of understanding how Social Security works and making informed decisions about when to start receiving benefits, as this can impact other financial plans and tax implications.

Preparing for required minimum distributions can be a complex process, but understanding the options and planning ahead can make a significant difference in retirement. Certified financial planner Hans Scheil discusses the importance of tax planning, leveraging resources, and considering alternative distribution plans to maximize the use of IRAs and 401ks. By starting early and exploring options such as Roth IRAs, annuities, and qualified charitable distributions, individuals can create a more secure financial future and avoid unnecessary taxes.

When people pass away, their families often need immediate cash to pay bills, settle estates, and cover funeral expenses. Whole life insurance can provide this necessary funding, making it a vital tool for financial planning, especially for blended families where assets are often tied up in the surviving spouse's name.

Annuities provide a guaranteed income for life, allowing individuals to supplement their Social Security benefits and create a predictable income stream in retirement. By deferring income payments, individuals can increase their annuity value and potentially receive higher income payments in the future. Annuities can be used as a tool to manage retirement income and provide peace of mind, but it's essential to understand the different types of annuities and their features to make informed decisions.

Qualified charitable distributions allow individuals to give directly to charity from their IRA, avoiding taxes on money they've never paid taxes on. This can be a tax-efficient way to give to charity, especially for those who are required to take minimum distributions from their IRA. A financial planner can help individuals understand the rules and benefits of QCDs and create a plan for their charitable giving.

Making informed decisions about Medicare, including the annual election period, Medicare Advantage plans, and Medicare supplements, can be crucial for a smooth transition into retirement. Certified financial planner Hans Scheil explains the importance of understanding one's options and making the right choices to ensure adequate coverage and cost savings.

Understanding your full retirement age is crucial when it comes to social security payments, as it affects the amount you receive and the tax implications. With 96 possible start dates between 62 and 70, making informed decisions about when to start your social security check can have a significant impact on your retirement income. Certified financial planner Hans Scheil explains the importance of knowing your full retirement age and how it relates to social security payments, taxes, and long-term care.

Planning for retirement involves considering various factors, including state income tax, social security, and tax planning. A fiduciary financial planner can help individuals create a comprehensive financial plan, leveraging their income and savings to achieve their goals, and making informed decisions about their financial future.

Discussing the importance of having a Last Will and Testament, as well as other essential documents, to ensure a smooth transition of assets and make informed decisions about healthcare and finances. Hans Scheil shares his expertise on estate planning, retirement planning, and financial planning, highlighting the benefits of having these documents in place, especially for Christians who want to finish well and leave a lasting legacy.

Certified financial planner Hans Scheil discusses the importance of planning for long-term care and creating streams of income in retirement, highlighting the benefits of a hybrid long-term care policy and life insurance policy. He shares his personal experience and insights on how to make informed decisions about financial planning and securing one's future.

A certified financial planner helps a client, Dr. Bob, use his IRA money to buy long-term care insurance and create a hybrid policy that provides tax-free benefits for his wife after his passing.

Building a foundation for finishing well in life involves making choices to please God, planning for storms, and having a plan in place for receiving care if needed. This includes discussing family caregiving, home health care, assisted living, and nursing homes, and how to make informed decisions about long-term care and retirement planning.

Understanding Medicare and the annual election period can be overwhelming, especially for those with chronic health conditions or limited financial resources. Certified financial planner Hans Scheil explains the differences between Medicare, Medicare Advantage, and Medicare Supplement plans, and how to navigate the election period to make informed decisions about healthcare coverage.

Signing up for Medicare is a complex process that requires careful consideration of various options, including original Medicare, Medicare Advantage, and Medicare Supplements. Understanding the different parts of Medicare, such as Part A, Part B, Part C, and Part D, is crucial to making informed decisions about health insurance coverage. This process is often overwhelming, and seeking guidance from a certified financial planner or other expert can help individuals navigate the system and make the best choices for their needs.

Financial planning for retirement involves making decisions now that will reduce tax bills and increase spendable income later. This includes tax planning, such as delaying social security and converting traditional IRAs to Roth IRAs, which can provide tax-free income in retirement. Delayed gratification is a key concept in financial planning, as it requires making sacrifices in the short term to achieve long-term goals.

God's provision through life insurance creates a halo of protection for beneficiaries, bypassing the probate process and tax benefits, allowing for a smooth transfer of wealth to loved ones.

Certified financial planner Hans Scheil discusses the benefits of multi-year guaranteed annuities, also known as MIGAs, as an alternative to low-yielding savings accounts and CDs. He explains how these annuities can provide tax-deferred growth and income, and how they can be used to manage long-term care costs and ensure a secure retirement.

Robby and Hans talk all about planning for retirement this week, especially as the world around us is changing.  Almost everyone wants to age at home, but in order to do this, you have to have a plan. Otherwise, it is very unlikely that you will be able to finish your life at your home.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Medicare with no extra coverage is a problem. One option you have for fixing this problem is a Medicare Advantage plan. Hans goes over what you need to consider when looking at these Part C plans.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.